Dortmund and Milan's Battle for Karetsas: Who Will Win?

Konstantinos Karetsas has just turned 18, but his market already looks like something built for a seasoned international. One club is counting millions, the other is selling a project. Both want him now.

On one side, Borussia Dortmund. Relentless, organised, already deep in negotiations with KRC Genk.

On the other, Milan. Slower to move on the fee, but with Ruben Amorim personally stepping in to sell a vision.

This is no minor chase. Genk value the Greece international at around €40m, bonuses included, and that figure has not scared Dortmund. The Bundesliga club have already sat down with Genk several times and, according to Belgian outlet HLN, more talks are on the agenda today.

Their opening proposal – €30m plus €5m in add-ons – did not survive first contact. Genk pushed it back. The message was clear: if Karetsas is leaving, it will be on their terms, not at a discount.

Dortmund’s response has been to keep the pressure on. They know this market. Identify a young creative midfielder, move early, close hard. It is a formula that has delivered them some of Europe’s most lucrative sales in recent years, and Karetsas fits the mould: inventive, brave on the ball, already trusted in European competition with Genk, as seen in the UEFA Europa League League Phase clash away to FC Utrecht at Stadion Galgenwaard in January 2026.

Milan are trying a different kind of power play.

While the Germans work the numbers with Genk, Amorim has gone straight to the player. HLN report that the Milan coach picked up the phone and spoke directly to Karetsas, laying out how he sees him fitting into his system, what role he would play, how his development would be handled in Serie A.

No intermediaries. No vague promises. A coach-to-player pitch.

The catch for Milan is financial. To match Genk’s demands, they need room in their budget. That means a sale first, then a full-scale push. Amorim’s hope is that the teenager will wait, resisting Dortmund’s more advanced negotiations until Milan can come to the table with a concrete offer.

It sets up a fascinating stand-off. Dortmund are closer to Genk’s asking price and already deep into the formalities. Milan are banking on the pull of their shirt, the allure of Serie A, and the persuasive power of a coach willing to speak directly to an 18-year-old and tell him: you’re central to what I’m building.

In the end, the decision may rest less on who offers the last million and more on what Karetsas wants his next step to look like: a well-trodden fast track in Dortmund, or a project built around Amorim’s promise in Milan.